Industrial

Institutional Capital Doubles Down on San Antonio Industrial Market

by Taylor Williams June 25, 2019

For many years, San Antonio’s industrial sector was considered, at best, a lower-tiered secondary market for investment of institutional capital. But over the last 18 to 24 months, this market has seen a major increase in the amount of institutional funds competing for placement. According to the latest research from JLL, during the last 24 months, institutional buyers have acquired approximately 11 million square feet of industrial real estate in San Antonio. This investment activity translates to more than $700 million in value, inclusive of entity-level transactions. These figures represent nearly a 200 percent increase in the annual volume of sales in San Antonio compared to the previous 24-month period. The investor pool runs the gamut in terms of where buyers are headquartered. Property owners are fielding demand from institutional capital sources located all over the country, including international capital sources, as investors continue to chase better yield within the red-hot sector that is industrial. Supply of high-quality product has struggled to keep pace with the growth of institutional demand, mainly because the influx of capital has been so strong in such a short period of time. But the market is still seeing steady growth in the development and absorption …

June 25, 2019

Acquisitions Industrial Midwest Wisconsin

Barry Co. Brokers $15M Sale-Leaseback of Harken Headquarters in Wisconsin

by Kristin Harlow June 24, 2019

PEWAUKEE, WIS. — The Barry Co. has brokered the $15 million sale-leaseback of Harken Inc.’s headquarters in Pewaukee. The 170,000-square-foot industrial building features 30,000 square feet of second-floor office space. The facility was constructed in 2012 as a build-to-suit for Harken, which is a manufacturer and marketer of marine hardware and accessories used in events such as America’s Cup and the Olympics. David Buckley of Barry brokered the transaction. HRKN LLC, a private real estate group not affiliated with Harken, purchased the property.

June 24, 2019

Development Industrial Texas

Hines to Develop 577,000 SF Industrial Park in Northeast San Antonio

by Taylor Williams June 24, 2019

SAN ANTONIO — Hines will develop Corner Ridge Crossing, a 577,000-square-foot industrial park that will be situated on 45 acres in northeast San Antonio. Located about a mile from Interstate 10, the development will consist of two rear-load buildings totaling 198,000 square feet, one 127,000-square-foot front-load building and one 252,000-square-foot cross dock building. Building characteristics will include 28- to 32-foot clear heights, ample car and trailer parking and two points of ingress/egress. The groundbreaking is scheduled for July, and the first spaces are expected to be available for occupancy in the first quarter of 2020. JLL will handle leasing of the new spaces, which will be able to accommodate users ranging in size from 19,000 to 252,000 square feet.

June 24, 2019

Development Industrial Texas

M2G Ventures Buys Land in Fort Worth for 630,000 SF Industrial Project

by Taylor Williams June 24, 2019

FORT WORTH, TEXAS — Local investment firm M2G Ventures has purchased 55 acres in Fort Worth’s Alliance Corridor for the development of a 630,000-square-foot industrial project. The property will be situated on approximately 41 acres, with the remaining land to be reserved for future development. Construction is expected to begin during the first quarter of 2020 and to be complete by 2021. Stream Realty Partners will manage the property upon completion.

June 24, 2019

Connecticut Industrial Leasing Activity Northeast

Pearce Commercial Negotiates 56,000 SF Warehouse Lease in Milford, Connecticut

by Taylor Williams June 24, 2019

MILFORD, CONN. — Local brokerage firm Pearce Commercial has negotiated a 56,000-square-foot warehouse lease in Milford, located between Bridgeport and New Haven. John Bergin of Pearce Commercial represented the tenant, Meridith Baer Home, a California-based home staging firm. Bergin also represented the landlord, MDC Milford Associates LLC, a division of Mountain Development Corp.

June 24, 2019

Development Industrial New Jersey Northeast Top Stories

Joint Venture Breaks Ground on 4.1 MSF Industrial Park in Linden, New Jersey

by Taylor Williams June 24, 2019

LINDEN, N.J. — A joint venture between Advance Realty Investors, Greek Development and PGIM Real Estate has broken ground on Linden Logistics Center, a 4.1 million-square-foot industrial park in Linden, located south of Newark. Linden Logistics Center will consist of eight Class A buildings that will run the gamut of industrial uses: warehousing, distribution, logistics, fulfillment and manufacturing. The development team will complete the project in phases, with the first deliveries slated for late 2020. Upon completion, the property will be the largest industrial development in the region, according to the developers. The project is situated on 350 acres off Tremley Point Road near the Port of New York/New Jersey. Prior to the joint venture acquiring the plot in 2018, the land was vacant for 15 years. The site housed chemical manufacturing operations during the 20th century. Estimated development costs for the new property were not disclosed. In addition to being located within 10 miles of the port, Linden Logistics Center will offer proximity to the New Jersey Turnpike and Newark Liberty International Airport. Individual buildings will be designed with flexible layouts to suit specific tenants. Excess space will be available for car and trailer parking, cross-docking capabilities and rail …

June 24, 2019

Development Georgia Industrial Southeast

GE Appliances to Invest $130M in Three Georgia Industrial Facilities, Create 300 Jobs

by Alex Tostado June 21, 2019

LOUISVILLE, KY. — GE Appliances will invest $130 million in three industrial facilities in north Georgia, ultimately adding 300 new jobs for the Louisville-based manufacturer in the Peach State. GE Appliances will invest $43 million in the company’s affiliate Roper Corp. facility in Walker County in order to expand manufacturing capabilities and introduce new cooking products. The investment will create an additional 100 jobs, bringing the total employee count at the plant to 2,000. The company will also build the $32 million Southern Logistics Center in Murray County. The new warehouse will house 100 employees and will connect the Port of Savannah and the Appalachian Regional Port via rail in northwest Georgia. Lastly, GE Appliances is building a $55 million smart warehouse in Jackson County, also housing 100 employees. The GE Appliances Southeast Region Appliance Distribution Center will use distribution technology to blend digital intelligence with high-tech innovation. In December, the Georgia Ports Authority announced plans to build a 104-acre inland port in Gainesville, about 25 miles from GE’s proposed plant in Jackson County. A timeline for construction was not disclosed.

June 21, 2019

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 30,041 SF Industrial Lease Renewal in Dallas

by Taylor Williams June 21, 2019

DALLAS — Holt Lunsford Commercial has negotiated a 30,041-square-foot industrial lease renewal at 4949 Sharp St. in Dallas. Canon Shoults of Holt Lunsford represented the landlord, TA Associates, in the lease negotiations. The representative of the tenant, Music & Arts Center, was not disclosed.

June 21, 2019

Acquisitions Industrial Michigan Midwest Ohio

ICP Acquires Two Industrial Properties Totaling 470,000 SF in Michigan, Ohio

by Kristin Harlow June 21, 2019

HOLLAND, MICH. AND BRYAN, OHIO — Industrial Commercial Properties LLC (ICP) has acquired two industrial properties totaling 470,000 square feet in Holland, Mich. and Bryan, Ohio. ICP purchased the buildings from Adient, an automotive seat manufacturer. Both properties are fully leased to Yanfeng Automotive Interiors, a global supplier of interior equipment for the automotive industry headquartered in Shanghai, China. The Holland facility is 148,000 square feet while the Bryan facility is 320,500 square feet.

June 21, 2019

Acquisitions Industrial Michigan Midwest Self-Storage

Marcus & Millichap Negotiates Sale of 533-Unit Self-Storage Facility in Lansing, Michigan

by Kristin Harlow June 21, 2019

LANSING, MICH. — Marcus & Millichap has negotiated the sale of a CubeSmart Self Storage facility in Lansing. The sales price was not disclosed. The 67,500-square-foot property is located at 4724 S. Creyts Road. The facility includes 89 climate-controlled units and 444 standard drive-up units for a total of 533 units. Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also procured the buyer, a limited liability company.

June 21, 2019

Newer Posts

Older Posts